Goal Check #6 June 2016

Monthly Goal Check-in #6 – @ 7/1/2016

In Goal Setting by Gen Y Finance Guy7 Comments

As I write this monthly goal check-in we are officially 183 days into 2016 (or ~50% complete). Most people started the year off strong with their New Year’s resolutions for 2016. Well, at least the 45% of people who actually set New Year’s resolutions (US based statistics). The low participation rate isn’t even the worst news, of those 45%, 1 in 3 have already given up by the end of January. This means that 70% of Americans have already failed either by default or giving up.

I don’t want you or I to be a part of that 70% group. If you’re reading this, then you’re probably still on track and fired up to reach your goals, I know I am!

If you’ve hit a bit of a speed bump from coming out of the gate too hard, use this post as a reminder that there are still 7 months left in the year. Don’t give up! Remember that when the going gets tough, the tough keep going.

This is also the perfect time for me to encourage you to check-in on the progress you have already made in your own goals this year. If you set measurable goals, this should be rather easy. And if you set up the right tracking system, it shouldn’t take long to evaluate where you are.

PeerStreet

We tend to overestimate what we can accomplish in a day or a week, but you would be surprised at what is possible over the course of a month and a single year.

We have 366 days in 2016. That is 366 opportunities to make forward progress on our goals. Some days are going to be better than others, it’s the nature of the game. The key is to keep it fun and remember life is just one big game. With 183 days behind us, that is 50% complete, which leaves us with 50% of runway left to make our goals a reality.

When you have a bad day, don’t give up, get up and shake it off as you continue moving forward. Remember tomorrow is another day and another opportunity.

Lastly, it is also a perfect opportunity to review the goals on your list to ensure they’re still important to you. Sometimes we put goals on our list that seemed really important at the time, but lose that importance over time. I am not saying you should quit on a goal just because you’re not seeing the progress you wanted to see by now, but to make sure you’re going after things that matter to you. It’s okay to realize that you put down the wrong goals.

Is it time for a pivot? A tweak? Or maybe it’s time to strike one of those goals off your list.


My Personal Accountability & Check-in

Below is where I stand with the 12 goals I set for 2016. You can see that I have added some additional color formatting to visually see the progress made in each passing month.

June 2016 Goal Check

My initial assessment when looking at this, is that I have made some really solid progress, but am behind pace in a few goals.

Let’s briefly take a look at each one:

Goal #1 [250 CrossFit/Hot Yoga Workouts or More, 36.4%] – Although I continue to make progress on this goal, I am significantly behind pace. This is something I take full responsibility for and realize that I am prioritizing other activities over working out. However, I have averaged about 15 workouts a month so far this year. I may not hit the 250 workouts, but I will complete far more workouts that I would have, had I not set this goal.

Goal #2 [250 Days Eating Primal of nutritional consciousness or More, 26.4%] – No progress here; I have essentially be ena glutton. However, July is off to a good start with lots of salads in my future.

Goal #3 [Earn $270K in Gross Income or More, 63.7%] – I am convinced that we will blow this goal out of the water, even without a promotion to VP CIO. Mrs GYFG keeps killing it every month with her income. We are currently on track to now bring in $312K as of our July Forecast.

Goal #4 [Publish 52 new Blog Posts or More, 71.2%] – This goal is ahead of schedule. As tempted as I am to raise the bar here, I don’t want the pressure to put out additional content just for the sake of a goal. My hope is that I put out content that motivates, inspires, informs, and moves you to action. Or at the very least gets the ideas flowing.

Goal #5 [Pay Down Mortgage Principle by $25,000 or More, 100%] – As expected our recent refinance had us blow past our goal of $25,000. According to our accelerated plan we don’t need to make another additional payment until April of 2017 to stay on track for the 7 year and 3 month payoff of our mortgage. We are currently on hold with making new payments until then.

Goal #6 [Contribute $24,650 to Pre-Tax Accounts, 52%] – This one is pretty much on auto pilot. Not much to think about here.

Goal #7 [Vacation 21 days or More with My Wife, Friends, and Family, 90.5%] – We just got back from 5 days out at the lake for the 4th of July weekend. For the most part I was completely disconnected from work…at least once we left the marina and you had no choice, because there is no cell service or internet. That is a beautiful thing!

Goal #8 [Save 50% or More of After Tax Income, 100%] – This will be something that moves around each month. I just finished putting together my June 2016 financial report and that has us forecasted to hit our 51% now, but the reading for June itself is 49%.

Goal #9 [Write 12 Posts on Other Blogs, 25%] – Three guest posts have been submitted and published. Here they are if you would like to take a read:

1 – The AC Interview Series with Gen Y Finance Guy

2 – Financially Alert Friends – Interview #3 with Dominic @ Gen Y Finance Guy

3 – 10 Guidelines to Financial Independence with Gen Y Finance Guy

I am behind on this goal, and honestly I think I will be lucky to hit 50% before the year is up. But I will do my best and forget the rest…

Goal #10 [250 Entries or More in Wife Gratitude Journal, 22.4%] – Behind pace. I should really be at 50% with this one. But I have tried to keep it very organic and writing things as they naturally come to me.

Goal #11 [Increase Net Worth by $112,000 to $430,000 by 12/31/16 or More, 70.5%] – I currently have us forecasted to actually increase net worth by $140,000 for the year, which would be an increase of 44% over our 2015 ending net worth.

Goal #12 [Earn $12,000 in the Blog, 25%] – This is a lifetime income goal. We have officially hit $3,000. The blog has officially earned $3,234 through June of 2016.

Goal 13 – Earn VP Title [Bonus Goal] – Now skipping VP and going straight to the C-Suite as mentioned above.

 


That is where I am at so far in 2016. I am very pleased with the progress I have made and am very much looking forward to updating everyone in another month. In the meantime, keep charging forward with your own goals. Don’t give in or surrender. Take it one day at a time. Measure your progress and I promise you will surprise yourself with what you can accomplish in month, quarter, and year.

Sometimes the progress we make doesn’t seem visible or worth the effort. But over time it really starts to add up and compound. Think about it this way…imagine you are trying to improve just 0.3% per day. That is not a visible amount of improvement, but it adds up to almost 1% improvement every 3 days, and by the end of the year you will have improved over 100%.

Onward & Upward!

– Gen Y Finance Guy


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Comments

  1. I think 15 workouts a month is a lot. I think that’s going to be my maximum amount of workouts, maybe +/- 2. Great work on going up on the C-suite, next stop, CEO, right? 😉

    1. Author

      Finance Solver – I really should be working out 25 times a month, but I have been sacrificing my workout time to continue moving forward with my career and financial goals at an accelerated rate. Will eventually need to slow down to bring a bit more balance.

      Don’t think I have any interest in the CEO position 🙂

      Cheers

  2. Wow – your gross income is insane! Sounds like you are well on your way to knocking all of your financial goals out of the water. Very cool!

    1. Author

      Thanks for stopping by Derek! The financial side has been working itself out, but it has been at the sacrifice of some of my other goals. Hoping to find a bit more balance…and soon!

  3. You can still get the guest post goal, don’t give up now! Increase your pace to what it would need to be to get it done (every 3 weeks?) and see how long you can maintain it. That way you can say you gave it your all, not just prioritized other things.

    1. Author

      Hey Brian – To be honest it is the last thing on my priority list right now. My time is spread so thin right now, that that goal has lost its importance to me in the short term.

  4. Pingback: How I Plan to Increase My Annual Income to $600,000 - Gen Y Finance Guy

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